Are Primerica Agents Allowed to Sell for other companies?

[jcorr]

Just had a discussion online with a PFS agent. He stated that he could be appointed with 20+ life insurance companies. When I asked if that meant he could actually write a policy with another company I was told that he already answered it. I was hoping that someone here could give me a definitive answer to whether or not a Primerica agent can write a life insurance policy besides a Primerica policy (well I guess they could, but would they lose their appointment with PFS?).

 

[toolbelt]

Just had a discussion online with a PFS agent. He stated that he could be appointed with 20+ life insurance companies. When I asked if that meant he could actually write a policy with another company I was told that he already answered it. I was hoping that someone here could give me a definitive answer to whether or not a Primerica agent can write a life insurance policy besides a Primerica policy (well I guess they could, but would they lose their appointment with PFS?).

According to their annual reports, the average rep is involved with fewer than 2 1/2 policy sales ANNUALY (and one of those could be the one they were sold upon joining). The average policy sale figure excludes cancellations, so the question really becomes, Does it matter???

 

[jcorr]

In the grand scheme of things it doesn't matter but I like having accurate information. The implication was that since he could be appointed to 20+ LIFE insurance companies that he could sell life insurance policies for them. If that were true I would think that would be a major game changer for PFS. Pretty sure he's a RVP or higher with PFS.

 

[Ghost]

Term life insurance underwritten by National Benefit Life Insurance Company, Home Office: Long Island City, NY in New York State; Primerica Life Insurance Company, Executive Offices: Duluth, GA in all other U.S. jurisdictions; and Primerica Life Insurance Company of Canada, Home Office: Mississauga, Ontario in Canada.

This is what I found on them and all you can offer is term. If a client wants cash value, you'll be taught to manipulate the information and that all cash value policies are Wholelife.

 

[DHK]

National Benefit Life is a final expense policy. Kinda fun to show that, but it does serve a purpose.

 

[DHK]

If a client wants cash value, you'll be taught to manipulate the information and that all cash value policies are Wholelife.

In the Facebook group, I've got a couple of guys who are quite professional and are truly doing the client a service replacing the underfunded policies they are coming across (usually underfunded IULs). I've been impressed by them. (Hey, if the agent screwed up, they get to lose that sale and client. And the Primerica guys can help their client be put into a better situation than they were in before - even if it IS more expensive term.)


In addition, I have no doubt that they are allowed to sell health insurance and other products that aren't in their "core" line-up.

 

[Ghost]

According to their annual reports, the average rep is involved with fewer than 2 1/2 policy sales ANNUALY (and one of those could be the one they were sold upon joining). The average policy sale figure excludes cancellations, so the question really becomes, Does it matter???

What would be considered an average rep?

 

[Tahoe Ray]

What would be considered an average rep?

Guessing app count divided by total appointed agents.

 

[Ghost]

Guessing app count divided by total appointed agents.

I guess, but there are so many agents in these type of companies that come and go that it's also not accurate to just divide it and say "it's 2 apps a year". An RVP or above probably does way more than that and I'm not even affiliated with Primerica.

 

[jcorr]

I appreciate the comments but it's getting a little bit off track. I'm just looking for confirmation that PFS agents are allowed to sell for other companies (as was implied by the agent I was talking with).